Zambia last week gave its bondholders a 'concrete proposal' for the restructuring of some $3 billion in eurobonds, the ministry of finance and national planning said on Friday.
Zambia's Finance Minister Situmbeko Musokotwane attends the Annual Meetings of the International Monetary Fund and World Bank in Washington, U.S., October 15, 2022. REUTERS/James Lawler Duggan/File Photo
"We continue to engage actively with our bondholders and proposals are being exchanged," the ministry told Reuters in a statement. Zambia defaulted on its overseas debt in 2020 and is working on a restructuring with bilateral creditors and private bondholders, but talks have dragged amid a lack of consensus on how to provide debt relief.
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